Great Eastern Life
Great Eastern Life Assurance Co. Ltd, often known as Great Eastern Life or simply Great Eastern, is a Singaporean multinational insurance company and subsidiary of OCBC Bank operating in the Southeast Asia region. Founded in 1908 by Alfred Hewton Fair, it is the largest and oldest life insurance company in Singapore and Malaysia.
| Company type | Public |
|---|---|
Traded as | SGX: G07 |
| Industry | Financial services |
| Founded | 26 August 1908 in Singapore, Strait Settlements |
| Headquarters | 1 Pickering St, #01-01 Great Eastern Centre, Singapore 048659 |
Area served | Singapore, Malaysia, Brunei, Indonesia and Myanmar |
Key people | Khor Hock Seng (Group CEO) |
Net income | S$12.5 billion (FY2017) |
| Total assets | S$84.5 billion (FY2017) |
| Total equity | S$13.09 billion (FY2017) |
| Parent | OCBC Bank |
| Subsidiaries |
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| Website | www |
In 2006, the company had assets in excess of S$8 billion, 2.6 million policies in force served by 24 branch offices and a service network of more than 17,000 agents nationwide. In August 2007, it had S$45 billion in assets and 3 million policyholders.
In 2020, the company's website stated that it has over S$90 billion in assets and over 8 million policyholders, including 5 million from government schemes. It has three distribution channels—a tied agency force, bancassurance, and financial advisory firm, Great Eastern Financial Advisers. It is the only life insurance company to be listed on the Singapore Exchange (SGX), and the largest insurance company in Southeast Asia in terms of assets and market capitalisation.
On 19 June 2023, OCBC Bank upped its stake in insurance subsidiary Great Eastern Holdings to 88.4%.